sec.11Election during relevant financial year

sec.11 Election during relevant financial year

This section applies if— the employer wants to elect to include in returns estimated value amounts and use those amounts to work out the employer’s relevant payroll tax and levy liabilities for the relevant financial year; and the employer has not made an election under section 10 (1) for the relevant financial year. The employer must apply to the commissioner for consent to make the election. An application under subsection (2) must be in writing. The commissioner must consider the application and decide whether or not to give the consent. The commissioner may give the consent only if reasonably satisfied— the main purpose for the employer’s election is not to avoid or reduce the amount of payroll tax or mental health levy that would otherwise be payable for the relevant financial year if the payroll tax or mental health levy were calculated on an actual value basis; and the employer, because of the employer’s circumstances, has compelling reasons for making the election. The commissioner must give the employer written notice of the commissioner’s decision. If the commissioner consents to the election, the employer must elect to include in returns estimated value amounts and use those amounts to work out the employer’s relevant payroll tax and levy liabilities. An election under subsection (7) — is made by the employer using an estimated value amount to work out the employer’s periodic liability and periodic levy liability for the first periodic return period after receiving the consent; and continues to apply until the employer elects, under subdivision 3 , to use actual value amounts to work out the employer’s relevant payroll tax and levy liabilities; and applies for working out— periodic liability and periodic levy liability for the periodic return period mentioned in paragraph (a) ; and all subsequent relevant payroll tax and levy liabilities for the employer while the election continues to apply. If the employer makes an election under subsection (7) , the employer must— use the value of the employer’s Queensland fringe benefits for the last year of tax to work out— the employer’s annual liability for the relevant financial year; and if the employer is not a group member or is the DGE for a group—the employer’s annual levy liability for the relevant financial year; and include the value of the employer’s Queensland fringe benefits for the last year of tax as part of the wages paid or payable during the relevant financial year by the employer— in the employer’s annual return for the financial year; and if the employer is a non-DGE group member—in the information given to the DGE under section 88A (5) of the Act for the financial year. If the election applies to the employer on 30 June in a financial year after the relevant financial year (a subsequent financial year ), the employer must include an estimated value amount as part of the wages paid or payable during the subsequent financial year— in the employer’s annual return for that financial year; and if the employer is a non-DGE group member—in the information given to the DGE under section 88A (5) of the Act for that financial year. The employer must not purport to make an election under subsection (7) unless the employer has received a consent under this section. Maximum penalty for subsection (11) —20 penalty units. s 11 amd 2022 SL No. 168 s 10 (sec.11-ssec.1) This section applies if— the employer wants to elect to include in returns estimated value amounts and use those amounts to work out the employer’s relevant payroll tax and levy liabilities for the relevant financial year; and the employer has not made an election under section 10 (1) for the relevant financial year. (sec.11-ssec.2) The employer must apply to the commissioner for consent to make the election. (sec.11-ssec.3) An application under subsection (2) must be in writing. (sec.11-ssec.4) The commissioner must consider the application and decide whether or not to give the consent. (sec.11-ssec.5) The commissioner may give the consent only if reasonably satisfied— the main purpose for the employer’s election is not to avoid or reduce the amount of payroll tax or mental health levy that would otherwise be payable for the relevant financial year if the payroll tax or mental health levy were calculated on an actual value basis; and the employer, because of the employer’s circumstances, has compelling reasons for making the election. (sec.11-ssec.6) The commissioner must give the employer written notice of the commissioner’s decision. (sec.11-ssec.7) If the commissioner consents to the election, the employer must elect to include in returns estimated value amounts and use those amounts to work out the employer’s relevant payroll tax and levy liabilities. (sec.11-ssec.8) An election under subsection (7) — is made by the employer using an estimated value amount to work out the employer’s periodic liability and periodic levy liability for the first periodic return period after receiving the consent; and continues to apply until the employer elects, under subdivision 3 , to use actual value amounts to work out the employer’s relevant payroll tax and levy liabilities; and applies for working out— periodic liability and periodic levy liability for the periodic return period mentioned in paragraph (a) ; and all subsequent relevant payroll tax and levy liabilities for the employer while the election continues to apply. (sec.11-ssec.9) If the employer makes an election under subsection (7) , the employer must— use the value of the employer’s Queensland fringe benefits for the last year of tax to work out— the employer’s annual liability for the relevant financial year; and if the employer is not a group member or is the DGE for a group—the employer’s annual levy liability for the relevant financial year; and include the value of the employer’s Queensland fringe benefits for the last year of tax as part of the wages paid or payable during the relevant financial year by the employer— in the employer’s annual return for the financial year; and if the employer is a non-DGE group member—in the information given to the DGE under section 88A (5) of the Act for the financial year. (sec.11-ssec.10) If the election applies to the employer on 30 June in a financial year after the relevant financial year (a subsequent financial year ), the employer must include an estimated value amount as part of the wages paid or payable during the subsequent financial year— in the employer’s annual return for that financial year; and if the employer is a non-DGE group member—in the information given to the DGE under section 88A (5) of the Act for that financial year. (sec.11-ssec.11) The employer must not purport to make an election under subsection (7) unless the employer has received a consent under this section. Maximum penalty for subsection (11) —20 penalty units.